As crypto hackers and thieves make off with billions, there's another kind of fraud lurking in the industry.

Posted By TheNewsCommenter: From Businessinsider.com: “As crypto hackers and thieves make off with billions, there's another kind of fraud lurking in the industry.”. Below is an excerpt from the article.

Happy Tuesday, readers. I'm Phil Rosen. By the end of the month I'll be back in wintry Manhattan, but for now I'm writing to you from Los Angeles. 

Like a limp handshake, the downfall of FTX has served as a sorry introduction for readers without previous exposure to the nascent crypto industry. A once-niche segment of finance has been thrust into the mainstream, and now everyone and their mother knows the name Sam Bankman-Fried.

Since the bedlam kicked off in November, countless people have told me their view of crypto has soured. Bearishness is building — and much of that can be chalked up to a broad loss of trust.

I'm sorry to say when you dig deeper into the practices of opaque crypto exchanges, there's little to restore that faith.

But before we jump in, Matt Turner, the editor in chief of business at Insider, is at the World Economic Forum in Davos. He will be posting notes and videos to his LinkedIn all week. You can follow along here — and read his latest post here. 

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